Countering threats to digital security in Africa

The digital landscape in Africa is rapidly evolving, with more individuals and businesses coming online than ever before. However, with this increased connectivity comes a growing threat of cybercrime, costing the continent billions of dollars annually. CNBC Africa's Ridhima Shukla spoke with Micky Watkins, CEO of World Mobile Group, to discuss the importance of robust laws and regulations to protect Africa's digital security. Recent estimates suggest that cybercrime costs Africa between three to four billion dollars yearly, highlighting the urgent need for enhanced cybersecurity measures. From online scams and fraudulent activities to ransomware attacks and botnets, African businesses and individuals are facing a range of threats in the digital space. Watkins emphasized the importance of governments implementing cybersecurity laws and regulations to combat these challenges. Countries like South Africa, Rwanda, Zambia, and Uganda have already taken steps in this direction by passing cybersecurity acts and protection laws. However, Watkins noted that there is still a lack of data and comprehensive laws to effectively address cyber threats across the continent. He highlighted the need for increased awareness, education, and resources to protect individuals and businesses in the digital age. As Africa continues to strive for inclusivity and digital literacy, Watkins emphasized the role of education and awareness workshops in preparing for the growing population coming online. With the rise of FinTech and the African Continental Free Trade Agreement (AfCFTA), new challenges and threats are emerging in the financial technology sector. Watkins advised learning from past mistakes and leveraging proven technologies to safeguard financial transactions and secure the digital infrastructure. World Mobile Group's approach to cybersecurity involves not only connecting people but also ensuring their protection through education and regulation. Watkins stressed the importance of telecom and internet companies taking responsibility for securing their users and promoting a safer digital environment. By prioritizing cybersecurity and implementing proactive measures, Africa can secure its digital future and lead the way in combating cyber threats on the continent.